American Homestar Corporation Announces Expiration of Series ''C'' Common Stock Trading Restrictions.Business Editors HOUSTON--(BUSINESS WIRE)--April 15, 2004 American Homestar Corporation (the "Company") today announced that trading restrictions as to all shares of Series C common stock, issued in connection with its reorganization, have expired. The Company issued 10 million shares of Series C common stock (par value $0.01) to its general unsecured creditors as part of its reorganization in late 2001. That stock was restricted from trading through April 11, 2004. The Company does not presently meet some of the listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. of the larger national exchanges, such as the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. , or The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. , therefore initial trading, if any, will be through the Over-the-Counter "pink sheets" exchange. The investment banking firm of Morgan Keegan will facilitate open-market trading of the stock under its new trading symbol AHMS AHMS Advanced Health Management System (NASA) AHMS Asociación Hijas de Maria Seiquer (Association of Daughters of Maria Seiquer, Guatemala) AHMS At Her Majesty Service (for quote purposes: AHMS.PK). Commenting on the announcement, American Homestar Corporation President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Finis Teeter, said, "The issuance of the Series C common stock to our former creditors was a key element in completing our reorganization. I am pleased that Morgan Keegan has agreed to facilitate trading for those wishing to purchase or sell the stock." American Homestar Corporation produces and sells manufactured homes (both HUD-Code and Modular) from its two production facilities in Texas and its 30 retail centers in Texas, Oklahoma and Louisiana. The Company also arranges for financing and insurance for its customers. For more information contact the Company's website at www.americanhomestar.com. |
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